Orion at T3 Advisor Conference revealed a series of new product updates and integration enhancements planned to launch in the first half of 2019.
These upgrades address major challenges facing independent advisors, from compliance obligations to the need for more proactive client communication, data security and lead generation capabilities.
Compliance technology simplified
Inform, a new application designed to be used independently or in conjunction with Compass, builds on the capabilities of this oversight tool that Orion first introduced last year.
Developed in collaboration with the leading regulatory compliance consultancy, MarketCounsel, and industry agitator Steve Lockshin’s AdvicePeriod, the application directly addresses some of the most critical pain points commonly cited by growing firms.
By leveraging firm data within Orion’s platform, compliance officers and teams can now:
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Cost-effectively monitor employee trades against firm-wide trade activity, pulling employee transaction and holdings data from more than 1,000 banks, broker-dealers and custodians
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Maintain and distribute affirmations, certifications and disclosures related to the Code of Ethics
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Track the receipt of gifts, political donations and outside business activities
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Access Orion’s trading data, enabling front-running, an invaluable time-saving process not supported by most third-party compliance offerings
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Log results for easy recordkeeping when the SEC and state regulators ask for an audit trail
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Leverage web-based, proactive and employee notifications for team members and CCOs alike
“Compiling information for Code of Ethics compliance can be a strenuous task for many RIAs, one made even harder by the limitations of the third-party solutions that have traditionally been a chief compliance officer’s only recourse,” said Kylee Beach, Orion’s general counsel. “With Inform, we went back to the drawing board and worked with our advisor clients and industry partners, MarketCounsel and AdvicePeriod to create a comprehensive, one-stop solution built for ease-of-use and using client data within Orion to save time.”
Pushing the boundaries of client engagement with Event-Based Notifications
Orion has also created a one-stop, time-saving solution for personalized email or text notifications, the latest trend in elevating an advisor’s client communication strategy: Event-Based Notifications. Event-Based Notifications allow advisors to automate the type and distribution of custom client communications that historically have been managed individually, such as RMD notices, portfolio rebalance updates, account value milestones and more, reducing time spent and promoting transparency between the advisor and client.
“Clients need to feel engaged and in control of their finances, and one of the best ways to build that experience is to combine proactive outreach with a personal touch,” said Eric Clarke, CEO of Orion.
“Our Event-Based Notifications center is a valuable client communication tool that has the potential to save advisors up to two hours a day while helping them demonstrate their value as a true partner and fiduciary.”
Access to a leading business wealth prospecting service
BizEquity, the world’s leading provider of business valuation knowledge and big data, along with Orion, have launched a new integration critical for helping advisors grow their businesses and deepen their relationships with existing clients.
Advisors on the Orion platform can now use BizEquity data insights to quickly determine one of the most crucial pieces of an entrepreneur client’s financial landscape: the true value of their business.
Advisors can also use the tool to learn the valuation of their own practice, a vital piece of information as M&A activity intensifies in the financial services industry.
"During a panel discussion at Schwab IMPACT, Eric Clarke identified the $12 trillion in business-owner wealth that will be transferred in the next decade as the biggest opportunity for wealth advisors,” said Michael M. Carter, president and CEO of BizEquity. “As the market-leading resource to help advisors better care for and prospect for business-owning clients, we are proud to partner with Eric and Orion. This integration is as much about technology as it is about our shared mission and culture of helping advisors win by better serving their clients. Business owner capital accumulations represent one of the largest and last implemented solutions of the wealth technology revolution for advisors.”
Protect your clients from identity theft and data breaches
Orion’s enhancements also include increased data protection for investors. Through Orion’s new integration with a global leader in consumer and business credit reporting and marketing services, advisors can now offer clients proactive credit and identity monitoring, as well as access to recovery services such as identity restoration and identity theft protection, directly through Orion’s Client Portal.
“The risk of data breach and identity theft continues to be a growing threat for firms and the advisors held responsible for protecting clients from exposure,” Clarke continued. “As the world we live in continues to evolve, we’re thrilled to empower our advisors to not only better protect clients, but to also better assist clients in the event the unthinkable happens.”
To learn more about these upcoming product enhancements, visit: www.OrionAdvisor.com/T3.
